Operations

Areas of Operation

  • Proven, growth-oriented management team
  • Oil-weighted with strong cash margins
  • Focused on the prolific Eagle Ford, Midland Basin, and Bakken / Three Forks – total of 30,383 net core acres in these areas
  • Inventory upside through downspacing and targeting additional horizons
  • Robust liquidity, low leverage, and a simple balance sheet/capital structure

Proved reserves determined utilizing SEC price methodology effective December 31, 2015. Proved reserves associated with Bakken / Three Forks and Eagle Ford properties as estimated by Cawley, Gillespie & Associates, Inc. Proved reserves associated with Midland Basin properties as estimated by Earthstone management. No proved reserves assigned to horizontal drilling locations in the Midland Basin. Eagle Ford includes other Southern region assets. Bakken / Three Forks includes other Northern region assets. Producing well counts and core acreage / drilling locations only include specified reservoirs / areas and not other wells located in the region. Midland Basin acreage excludes Eastern Shelf – Mitchell Ranch acreage.

PV-10s as of December 31, 2015 utilized SEC price methodology and were based on $50.28 per barrel of oil and $2.590 per MMBTU for natural gas.

Net production as of March 31, 2016.